By Yuka Obayashi

TOKYO (Reuters) -Oil prices fell in early Asian trade on Monday, erasing last week’s gains, as loadings resumed at the key Russian export hub of Novorossiysk after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack.

Brent crude futures dropped 58 cents, or 0.9%, to $63.81 a barrel at 0050 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading at $59.50 a barrel, down 59 cents, or 1.0% from Friday’s close.

Both benchmarks rose more than 2% on Friday to end the week with a modest gain, after exports were suspended at Novorossiysk and a neighbouring Caspian Pipeline Consortium terminal, affecting the equivalent of 2% of global supply.

Novorossiysk port resumed oil loadings on Sunday, two industry sources said and LSEG data showe

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